Truist Financial Lowers Plymouth Industrial REIT (NYSE:PLYM) Price Target to $22.00

Plymouth Industrial REIT (NYSE:PLYM) had its price objective decreased by Truist Financial from $27.00 to $22.00 in a report published on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Barclays reduced their price objective on shares of Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. BMO Capital Markets decreased their price target on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and set a $27.00 price target on shares of Plymouth Industrial REIT in a report on Wednesday, August 28th. Robert W. Baird reduced their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, BNP Paribas cut Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Plymouth Industrial REIT currently has a consensus rating of “Hold” and a consensus price target of $24.33.

Plymouth Industrial REIT Stock Performance

Shares of PLYM opened at $18.76 on Friday. The firm has a market capitalization of $851.52 million, a P/E ratio of 938.00, a P/E/G ratio of 1.46 and a beta of 1.37. Plymouth Industrial REIT has a 52 week low of $18.08 and a 52 week high of $25.55. The stock has a 50 day moving average price of $20.69 and a two-hundred day moving average price of $21.83. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.12 and a current ratio of 0.12.

Plymouth Industrial REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend was Monday, September 30th. Plymouth Industrial REIT’s dividend payout ratio (DPR) is currently 4,800.00%.

Insider Buying and Selling at Plymouth Industrial REIT

In related news, CEO Jeffrey E. Witherell purchased 2,000 shares of Plymouth Industrial REIT stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $18.49 per share, for a total transaction of $36,980.00. Following the completion of the transaction, the chief executive officer now owns 252,248 shares in the company, valued at $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pendleton P. Jr. White acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $18.39 per share, for a total transaction of $91,950.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at $91,950. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its holdings in Plymouth Industrial REIT by 4.1% in the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock valued at $99,471,000 after purchasing an additional 174,836 shares during the period. Vanguard Group Inc. boosted its stake in Plymouth Industrial REIT by 2.8% during the first quarter. Vanguard Group Inc. now owns 4,264,132 shares of the company’s stock valued at $95,943,000 after buying an additional 115,318 shares during the period. Westwood Holdings Group Inc. grew its position in Plymouth Industrial REIT by 1.0% during the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock worth $63,372,000 after buying an additional 28,272 shares in the last quarter. State Street Corp grew its position in Plymouth Industrial REIT by 1.4% during the third quarter. State Street Corp now owns 1,223,747 shares of the company’s stock worth $27,949,000 after buying an additional 16,398 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Plymouth Industrial REIT by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,047,832 shares of the company’s stock valued at $23,685,000 after acquiring an additional 29,924 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Plymouth Industrial REIT Company Profile

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.